The State Agricultural Bank was established in 1919 as the Polish State Agricultural Bank, transformed into the State Agricultural Bank in 1921. The bank's object was to supply agriculture with short- and long-term credit. The bank issued mortgage bonds and land reclamation bonds.
The object of the auction is an 8% mortgage bond for 860 zlotys in gold (the value of the zloty according to the 1927 parity), series I, converted under the Presidential Decree of November 18, 1938. - interest rate changed to 5.5%.
Value of pledge letter changed by overprint.
